• Deborah

On December 20, the European Banking Authority (EBA) published a draft regulatory technical standard (RTS) (‘the draft RTS’) setting up a central database on anti-money laundering and countering the financing of terrorism (AML/CFT).


The draft RTS also specifies when a weakness must be considered material, the type of information collected, how the information in the database will be analysed and disseminated by the EBA.


Considered as an ‘early warning tool’ by the EBA, the central database will facilitate the exchange of information between competent authorities, a prerequisite in strengthening AML/CTF supervision as well as preventing and countering ML/TF in the EU.


The EBA will submit these draft RTS to the European Commission for approval.


Recent Posts

See All

01/06/2022 - Effective date of Amendments to National Instrument 81-105 Mutual Fund Sales Practices and Related Consequential Amendments relating to prohibition of deferred sales charges for investmen

According to the CFA Institute, the most common definition of a derivative is that it is “a financial instrument that derives its performance from the performance of an underlying asset.’’ There are t